Strong Opposition to FHFA Proposals on FHLB Membership January 13, 2015 Brandon Ivey The Council of Federal Home Loan Banks said the FHFA has shown “no compelling need” for the proposed changes to membership standards. Read More
California Cites Document Request Delays at Ocwen, May Suspend the Lender/Servicer January 13, 2015 Paul Muolo For short sellers, Ocwen Financial is the gift that keeps on giving. Read More
Home Equity Lending Expected to Increase January 13, 2015 Brandon Ivey The two top banks increased their HEL holdings from midyear, and industry analysts expect home-equity lending to continue to increase in 2015.Read More
Short Takes: JPM Touts Correspondent Channel / CFPB Chief Cordray Says the Sky Did Not Fall / What? / Supreme Court Deals Blow to RBS, Nomura January 13, 2015 Paul Muolo and Thomas Ressler Despite Cordray's proclamation, loan production fell by 35 percent last year, but all that was tied to refis plunging. Right?...Read More
Cove Financial, a Lender Operated by Former New Century Officials, Goes Bust January 12, 2015 Brandon Ivey Patrick Flanagan, Cove’s CEO, was once the president of New Century Mortgage, a now-defunct subprime giantRead More
FHA Sets Lower FHA Premium Date: January 26 January 12, 2015 George Brooks FHA lenders may start requesting case number cancellations on Jan. 15, but must submit all requests before midnight on Feb. 26.Read More
Short Takes: Five Oaks Cuts New Repo Deal with BofA / Ocwen’s ‘Clean-up’ Calls / More Intel on Never Meeting the Customer / We Like Our Debt Just the Way It Is January 12, 2015 Paul Muolo “I only saw about 5 percent of my buyers face-to-face last year,” said one Texas-based loan officer. Read More
2014: The Jumbo MBS Boom That Wasn’t January 11, 2015 Brandon Ivey S&P believes the gap in execution between whole-loan sales and securitization has started to narrow.Read More
New, Lower VA Loan Limits: Don’t Sweat It January 11, 2015 George Brooks However, the VA loan program does not require a downpayment, which is a major attraction for some borrowers.Read More
Want to Make Money as a Loan Officer? Don’t Work at a Bank January 11, 2015 Paul Muolo How much a loan officer earns can be determined by where his/her leads come from.Read More
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